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How Birkenstock snubbed one of Germany's savviest dealmakers


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As Christmas eve approached last year, Germany’s savviest dealmaker thought he’d pocketed a special gift.
In the early hours of December 24, Alexander Dibelius struck a gentleman’s agreement with Oliver Reichert, the chief executive of Birkenstock. CVC Capital Partners, the buyout firm where Mr Dibelius is a managing partner, was set to buy the iconic German sandal-maker for more than €3.5 billion ($4.2bn).
For CVC, Birkenstock had all the ingredients of a promising investment: a brand that resonates with its eco-warrior credentials and rich heritage, coupled with the allure of untapped growth in markets like Asia. After several years, CVC would pump up Birkenstock, go global and then move on. Mr Dibelius, 61, stood to make the deal his crowning buyout. ....

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Birkenstock sold to group backed by Europe's richest man


Birkenstock sold to group backed by Europe s richest man
By
Hanna Ziady, CNN Business
Published Feb 27, 2021 1:30:35 AM
enablePagination: false
Photo courtesy: John MacDougall/AFP/Getty Images
(CNN) German footwear brand Birkenstock is selling a majority stake to L Catterton, a private equity firm backed by Bernard Arnault s LVMH.
The company said in a statement on Friday that L Catterton affiliates including Arnault s family investment company, Financière Agache, will also invest in the maker of the iconic flat sandals. Arnault is Europe s richest person, with an estimated net worth of $117 billion, according to the Bloomberg Billionaires Index.
In L Catterton and Financière Agache we have found not just shareholders, but also partners for achieving our global growth ambitions, said CEO Oliver Reichert, who is one of the company s first leaders to come from outside the Birkenstock family. ....

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